HNI Corporation Secures New Credit Agreement with Major Banks for $1.725 Billion to Fund Merger with Steelcase Inc
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HNI Corporation has secured a new Credit Agreement with major banks totaling $1.725 billion to fund its merger with Steelcase Inc. The agreement includes a $425 million revolving credit facility, a $500 million term loan A, and an $800 million term loan B. The financing will cover acquisition costs, debt repayment, and related fees, with commitments contingent on the merger's progress. This announcement was made on September 5, 2025.
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